Health Care Reform

On March 23, 2010, President Obama signed into law the health care reform bill, the Patient Protection and Affordable Care Act. This legislation, along with the Health Care and Education Reconciliation Act of 2010, makes sweeping changes to the U.S. health care system. These changes will be implemented over the next several years. Below is an overview of the key reform provisions that have been implemented. If you would like more information on the Health Care Reform please visit their website.

Under the Affordable Care Act, health insurance companies can't refuse to cover you or charge you more just because you have a "pre-existing condition - that is, a health problem you had before the date that new health coverage starts. They also can't charge women more than men. These rules went into effect for plan years beginning on or after January 1, 2014.

The Health Savings Account has different guidelines as it relates to newly eligible over age dependents. These dependent children in question who are now eligible for coverage under the health plan may not be considered tax dependents for HSA distributions.